The USD/JPY may trade in a 79.00-79.80 range, with the topside likely to be heavy amid investor risk aversion due to uncertainties over a delayed aid payment for Greece and the U.S. Congressional debate over the fiscal cliff, says Kengo Suzuki, forex strategist at Mizuho Securities in Tokyo. "The atmosphere is risk-off," Suzuki says, adding that the pair is likely to be rangebound unless positive developments over those issues emerge. The pair is at 79.42 vs 79.39 late Tuesday in New York. Suzuki tips the EUR/USD in a 1.2650-1.2750 band. The pair is at 1.2702 vs 1.2705. Suzuki adds that focus later in the global day will fall on a slew of U.S. economic indicators including October retail sales and the U.S. stock market.
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